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Calculate the cost of goods sold and the interest expense

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You have been given the following information for Moore's HoneyBee Corp.:

Net sales = $37,000,000.

Gross profit = $18,700,000.

Other operating expenses = $2,700,000.

Addition to retained earnings = $7,175,000.

Dividends paid to preferred and common stockholders = $2,700,000.

Depreciation expense = $2,880,000.

The firm's tax rate is 21 percent. The firm's interest expense is all tax deductible.

Problem 1: Calculate the cost of goods sold and the interest expense for Moore's HoneyBee Corp.

Reference no: EM132916698

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